Agent Mortgage Loan Officer

Agent Mortgage Loan Officer

Summary

PenFed is hiring an Agent Mortgage Loan Officer in East Prince William County – Kingstown/Lake Ridge/East Prince William County. The Agent Mortgage Loan Officer (MLO) proactively solicits new residential mortgage business and sells Pentagon Federal Credit Union’s (PenFed) mortgage products to meet established loan quality and production goals.

In this on-going sales role, the Agent MLO continually identifies, develops and maintains a quality network of business relationships that serves as a recurring source of referrals for new mortgage lending opportunities. An Agent MLO’s network may consist of real estate professionals, builders, professional and personal contacts, as well as other valuable referral sources, and is enhanced by the Agent MLO’s regular participation in business related development opportunities, community efforts to promote homeownership and professional organizations.

The Agent MLO responds to member inquiries and referrals that are generated from both their own contacts and from other PenFed’s business channels. The Agent MLO conducts interviews with prospective borrowers in order to analyze financial and credit data, determine member financing objectives, advice members of product and pricing policies and guidelines, and gather any additional required information. The Agent MLO ensures exceptional member service by maintaining thorough knowledge of lending programs, policies, procedures and regulatory requirements, demonstrating a commitment to professional ethics, complying with all Federal and state compliance policies and adhering to Home Mortgage Disclosure Act (HDMA) guidelines.

Essential Functions

Proactively solicits new residential mortgage business and sells PenFed mortgage products to meet established loan quality and production goals. Promote sales and continually identifies, develops and maintains a quality network of realtor and member business relationships. Increase mortgage business by marketing, promoting and recommending loan products and services with use of sales techniques to promote and close transactions. Represent PenFed in the market place, research competitor and other external marketplace best practices. Have an awareness of competitive strategies and knowledge of product offerings as a means to improving sales penetration and fulfilling the needs of actual and potential members. Develop and maintain knowledge of Conventional, VA and FHA lending policies and procedures. Conduct interviews with prospective borrowers in order to collect and analyze information regarding the member’s income, assets, investments or debts to determine member financing objectives. Provide sound mortgage advice to members regarding the advantages and disadvantages of different loan products and pricing policies and guidelines. Ensure exceptional member service by maintaining thorough knowledge of lending programs, policies, procedures, regulatory requirements and demonstrate a commitment to professional ethics. Learn and utilize assigned programs and technology to maintain regulatory loan documentation requirements. Ensure that all conditions and closing dates are met. Initiate and maintain contact with realtors and members throughout the processing period to ensure that all related parties are kept informed of loan status, conveying the appropriate level of urgency and professionalism so that all expectations are exceeded. Identify any issues which may impact ability to meet previously established conditions and dates in a timely manner.

Education And Experience

Equivalent combination of education and experience is considered.

High School Diploma or equivalent. Four year college degree preferred. Minimum of 2 years residential mortgage lending experience with a focus on generating self-sourced business is preferred. Demonstrated understanding of mortgage processing, underwriting and closing procedures. Knowledge of Conventional, FHA and or VA lending guidelines. Understanding of Federal Regulations governing Real Estate Lending.

Supervisory Responsibility

This position will not supervise employees.

Licenses and Certifications

There are no additional certifications required.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise. Availability daily after hours and weekends for PenFed Real Estate Rewards Group lead opportunities.

Travel

Ability to travel to various worksites and be on-call is required.